Here is a link that may help you find some helpful advice:
Some of you may be struggling with a difficult decision. Should we let our house go back to the bank (they really don't want it!) in a foreclosure, do we need to sell short, which requires bank participation to agree to let you sell the house for less than you owe on it. Perhaps another alternative is to see what our government has made available in the way of help. Lots of people bought their homes with a very high debt to income ratio which has made it very tough for families to make their house payment and still have money for food, clothing, etc. If you are in this category, check out the link and see if there is a way for you to refinance, or reduce your payment amount in order to be able to stay in your home. If you have questions or would like to talk about whether to sell or refinance, give me a call at 425-890-0124.